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How to Sell an NFT on Binance NFT Marketplace

2021-07-01 04:16
You can sell your NFTs and Mystery Boxes on Binance NFT Marketplace using a fixed price, an Auction, or accepting buyers' offers. You can also accept payments in several different cryptocurrencies.
As a Creator, you’ll also receive a 1% royalty payment for any subsequent trading of your NFT on the platform. Depositors also enjoy the same benefit for any external NFTs they bring into the Marketplace.
Whether you are selling an NFT you created or one in your collection, the process is similar and straightforward. The Binance team will review your submission before listing it on Binance NFT Marketplace.

How to list an NFT?

One of the most exciting features for creators on the Binance NFT Marketplace is minting non-fungible tokens. Although other platforms let you create NFTs, Binance is the largest crypto exchange allowing you to quickly mint non-fungible tokens. Currently, pre-approved creators are allowed to mint NFTs using the platform. In the near future, this feature will open up to all registered users.
For more details, please refer to How to Create Your Own NFT on Binance.
You can list an NFT you just created from the [Minting Completed] screen. Click [List NFT] and you’ll see the listing options.
You can also add a description for the NFT. Make sure to include any extra features it might have, for example, any utility in a game. Please note that descriptions can only be added when minting an NFT. It cannot be edited after the NFT is created. When you resell an NFT, you cannot edit the description.
To list an NFT in your collection, go to [Profile] - [User Center] - [Asset].
Click [NFT Asset] or [Mystery Boxes] to find the NFT you want to list. Hover over the item and click [List NFT].
Alternatively, go to the NFT’s description page and click [List NFT].

How to set up your NFT listing?

1. Select your sell method. Choose either [Set Price] or [Highest Bid].
  • Set Price: Buyers can purchase your NFT instantly with the price you set.
  • Highest Bid: Your NFT will be auctioned and sold to the highest bidder.
1.1 If you’re using Set Price:
Select the crypto you’d like to receive and enter the sale price of your NFT. This function also allows buyers to make offers on your NFT.
1.2 If you’re using Highest Bid:
1.2.1 Select the crypto you’d like to receive and enter the minimum bid amount for your sale. This is the price where the bidding will start.
1.2.2 You may also enter your desired selling price (a buy-out price) under [Auction a Bid] (for NFT sales) or [Buy-out Price] (for Mystery Box sales). Buyers will be able to purchase the item immediately if they offer the buy-out price or when the auction reaches this price.
1.2.3 Select the minimum markup percentage. This limits the buyer’s bid to be 5%, 10%, or 20% higher than the minimum price increase.
2. You can choose to list the NFT immediately after our team reviews your listing. Please note that the review normally takes about 4-8 hours.
Alternatively, select a specific time and date to list. The earliest time you can set is 12 hours after submitting the listing for review. If the review is not completed by your desired listing time, we will list your NFT immediately after approval.
3. Set the date and time for your NFT sale. The sale should last for at least 12 hours and no longer than 7 days from the time of listing.
4. Choose a suitable category for your NFT. This can help buyers find your NFT more easily.
5. Please make sure you read and understand the fees associated with selling your NFT before clicking [Submit]. The Binance team will manually review every NFT before listing it to ensure it meets our standards. This process usually takes 4-8 hours. Please wait patiently. You will be notified when your NFT is listed.
6. To view your listed NFTs or Mystery Boxes, go to [User Center] - [Asset] - [On Sale].

How to accept an NFT offer?

1. When a buyer makes an offer on your NFT or Mystery Box, you will receive a notification in the [User Center]. To check the offer, go to [Profile] - [User Center] - [Offers] and click [Offers Received].
Please note that if you receive more than 1 offer for the same item, you will only see the highest offer for each crypto.
2. To accept an offer, click [Accept].
3. Next, click [Confirm] to confirm your acceptance of the offer.